Corporate recovery and business advisory firm Quantuma has saved 16 Hampshire jobs with the rescue of a pump manufacturer and installer.
Partner Carl Jackson and director Simon Campbell of Quantuma were appointed administrators to Alton Pumps at Riverwey Industrial Park, Newman Lane, Alton.
Campbell said the business had had trading problems and suffered from a cash squeeze.
The £2 million turnover business was established in 2005, and provided pump manufacture, installation and services for both the commercial and domestic sector.
Campbell said: “We managed to protect and refinance the business in the short term to allow extensive marketing of the business and a potential return to unsecured creditors.
“The marketing process attracted 20 interested parties, and the business was sold back to its management after a four-way auction.”
The Alton Pumps rescue is just the latest in a series of deals struck by corporate recovery and business advisory specialists Quantuma.
In recent months, the firm has saved 277 jobs with rescue missions at Jet Roller Services (12 jobs), Avon Steel Company (49), Medispa Technologies (27), Burroughs Day (79), I-Vapo (73) and now 16 jobs at Alton Pumps.
Campbell said: “The real skill in taking advice and acting to save a business is in recognising early enough that you have a problem.
“If we are consulted as soon as the warning lights come on, it may be possible to find a solution to refinance the business, or find a buyer, thus saving as many jobs as possible.
“Burying your head in the sand helps no one, not least the business and your workforce.”